10.04.2013 - IBA starts rendering Islamic banking services
The International Bank of Azerbaijan, the country's biggest bank, has announced provision of new services to clients through the first and so far only "Islamic window" in Azerbaijan. IBA, founded in January 1992 and 50.2 percent-owned by Azerbaijan's Ministry of Finance, holds a 35 percent share of banking assets in the country. It offers Sharia-compliant products through an Islamic window, which follow religious principles such as a ban on interest and on pure monetary speculation...............................................Full Article: Source
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